NBU expands criteria for selecting banks to participate in currency interventions
The National Bank of Ukraine (NBU) has expanded criteria for selecting banks to participate in currency interventions asking for the best exchange rate, the central bank has said on its website.
The NBU decision is outlined in resolution No.1 dated January 5, 2017 amending the provisions and conditions of trade with foreign currency.
Now, instead of largest banks-participants of the interbank currency market in terms of turnover, 20 banks, which would have the highest rating among interbank currency market players over the past quarter, will be able to take part in currency interventions.
The rating will be calculated using three criteria: the volume of banks' currency sale and purchase transactions with other market players and the NBU (the criterion's share of the final rating is 50%); the volume of banks' cashless currency sale and purchase transactions with clients (30%) and the volume of banks' assets (20%).
The new rules took effect on January 6, 2017.
Advertising
Advertising
MORE ABOUT
Four MPC members expect reduction of key policy rate to 11.5-12% by late 2024, remaining 7 expect fall to 13% – NBU
13:58, 06.05.2024
NBU develops alternative scenario in case of higher security risks with GDP growth in 2025 by 3.3%
11:03, 06.05.2024
NBU lifts restrictions on import of works, services; introduces other currency concessions
21:01, 03.05.2024
NBU requires Getin Holding to sell Idea Bank within six months
10:09, 03.05.2024
NBU completing development of bill on war risk insurance system in Ukraine
16:21, 30.04.2024
LATEST
Naftogaz Group receives UAH 23.1 bln net profit in 2023 against UAH 79.1 bln loss in 2022
12:52, 07.05.2024
After opening of sea exports, Metinvest increases workload of factories, directs efforts to retain teams – HR Director
20:17, 06.05.2024
Kamet Steel plant carrying out major overhaul of cable rack at coke chemical division for uninterrupted power supply
19:52, 06.05.2024
Business expectations in Ukrainian construction market in Q2 decrease by 1.1 pp – statistics
19:16, 06.05.2024
New EU sanctions will apply to supplies of manganese ore and aluminum oxide to Russia – Latvian authorities